Risk Management Plan Example


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Australia Triathlon

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Risk Management Plan Example

  1. 1. Event Risk Management Plan - Triathlon Race By Roy YingLecturer, Event Risk Management HK Baptist University SCE
  2. 2. Event Background• XXX Promotions, a triathlon promotions company, is planning a triathlon race on the Gold Coast, Australia, over the Christmas holiday period.• The race will host some of the best triathletes from both Australia and around the world competing for prize money and competition points in a summer type carnival.
  3. 3. Purpose of Risk Management Plan• The event risk management plan is designed to identify, evaluate the likelihood, plan and deal with potential risks in conducting a triathlon event.• The main areas of risk include that of risk to spectators, athletes, staff, volunteers and the general public.
  4. 4. The risks - three categories:• High Risk - High priority for XXX Promotion management to deal with. Risks likely to contain a high probability of occurrence and substantial financial impact on the organising committee.• Moderate Risk - Some impact on XXX Promotions. Likelihood of occurrence is probable. Special attention from management may be necessary to alleviate risk.• Low Risk - Minimal likelihood of occurrence and minimal impact on the organising committee of XXX Promotions.
  5. 5. Response to each risk identified• Avoidance - Management will choose not to conduct activities with the potential of associated risks.• Reduce - The organising committee will develop policies and procedures to minimise risk.• Retain - Self-funding to provide compensation to personnel involved in the event of a potential risk occurring.• Transfer - Purchase insurance policies or hire a consultant in order to transfer the risk of a particular risk occurring.
  6. 6. The following scenarios outline some of the areasof risk that are evident in running a triathlon andthe resultant actions that can be taken to protectthe organising committee
  7. 7. Weather Risk – public information from the observatory No of typhoons since 1961 Temp. & Rain
  8. 8. Medical Risks – from experience• XXX Promotions is a PCO• Organising committee should be comprised of professional triathlon experts• Professional organizations may also offer opinions based on experience
  9. 9. Security Risk• The appointed security company should be consulted• Similar events in other cities should be studied to identify security risks• The local or national level triathlon should have guidelines on event protocol• Police should be consulted as they may have received security alerts in case of potential terrorist attacks
  10. 10. Assessment:Weather is the major risk• Possible rain so care must be taken to avoid slippery surface• Athletes may incur accidents owing to rain or extreme heat• Poor weather (rain or heat) may lead to health risk on spectators• Organiser may be held liable for negligent if not handled properly• Summer in Australia – weather is always unpredictable. It is important to plan for the worst.
  11. 11. Risk mitigation measuresStrategic responses• Transfer partial risk to insurance companies• Reduce risk by implementing measures to minimize damage by potential hazards
  12. 12. Risk response - TransferTo transfer the risk associated, XXX Promotions may decide take out some or all of the following types of insurance:• Comprehensive General Liability - This policy covers fire, theft and injury, however, the organising committee should also take steps to minimise the chances of these risks occurring.• Cancellation or Contingency Insurance - This policy provides coverage for the cancellation of events due to such occurrences as inclement weather conditions or non-appearance of athletes.
  13. 13. Risk response - Transfer• Workers Compensation Insurance - This policy provides for reimbursement and coverage of all staff, volunteers and officials should these people incur an injury during the event.• Participant Accident Insurance - To transfer the risk associated with injury and loss of income for athletes competing in the triathlon participant accident insurance needs to be taken out. This will remove the risk associated with XXX Promotions directly contributing to the injury or illness sustained by an athlete while competing.
  14. 14. Risk response - Reduce• Slippery surface – participants (i.e., athletes, volunteers and spectators) may get hurt – For athletes: consult competition committee to alter race route – For volunteers: cover service area with carpet – For spectators: moving concession stands and portable toilets to covered area
  15. 15. Risk response - Reduce• Accidents during competition – Consult competition committee to issue circulars to athletes on pre-cautions they should take safeguarding their own health during rain and or extreme heat – In addition to having St. John’s Ambulance, organizer should train onsite staff on basic Emergency Action Plan (EAP) – Prepare disposable rain gear and additional water stations depending on weather situation
  16. 16. Risk response - Reduce• Safeguarding Against Rain – Offer substantial early bird discount so most people would have already bought tickets before knowing the weather forecast – Approach sponsors during project planning stage to offer rain gear (i.e., rain coat or umbrella) as part of spectators’ souvenirs – Relocate concession stands to indoor (or covered areas) so spectators need not get wet – Stock up on rain gears at retail kiosks
  17. 17. Risk response - Reduce• Safeguarding Against Extreme Heat – Prepare additional portable concession stands offering cold drinks – Prepare for portable toilets as the more beer consumed, the need for toilets increases – Stock up on salt tablets – Book more electricity (i.e., generators) as the need for air-con and refrigeration increases – Issue public address on location of first-aid stations